How to Develop Trading Plans for Proshares Ultrashort Bloomberg $SCO and other Stocks
April 07, 2021, BY Allen K. - Contributor | 
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According to Stock Traders Daily, a 2-year industry veteran, investors can use the price action in Proshares Ultrashort Bloomberg (NYSE: SCO) to foretell upcoming changes. A current example is provided below. There are trading plans for SCO, but the data on this page does not update in real time. If you want a real time update, or a different stock, please get one here Unlimited Real Time Reports.
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Review the SCO Trading Plans:
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Bias | Neutral | Strong | Weak |
| P1 | 0 | 0 | 1.10 |
| P2 | 6.72 | 6.61 | 4.02 |
| P3 | 7.03 | 7.08 | 9.82 |
Long Term Trading Plans for SCO
April 7, 2021, 11:30 pm ET
The Technical Summary and Trading Plans for SCO help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this SCO Report.
SCO - (Long) Support Plan
The technical summary data tells us to buy SCO near 4.02 with an upside target of 9.82. This data also tells us to set a stop loss @ 4.01 to protect against excessive loss in case the stock begins to move against the trade. 4.02 is the first level of support below 6.86 , and by rule, any test of support is a buy signal. In this case, support 4.02 is being tested, a buy signal would exist.
SCO - (Short) Resistance Plan
The technical summary data is suggesting a short of SCO as it gets near 9.82 with a downside target of 4.02. We should have a stop loss in place at 9.85though. 9.82 is the first level of resistance above 6.86, and by rule, any test of resistance is a short signal. In this case, if resistance 9.82 is being tested, a short signal would exist.
Swing Trading Plans for SCO
April 7, 2021, 11:30 pm ET
The Technical Summary and Trading Plans for SCO help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this SCO Report.
SCO - (Long) Support Plan
If 7.08 begins to break higher, the technical summary data tells us to buy SCO just over 7.08, with an upside target of 9.82. The data also tells us to set a stop loss @ 7.06 in case the stock turns against the trade. 7.08 is the first level of resistance above 6.86, and by rule, any break above resistance is a buy signal. In this case, 7.08, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
SCO - (Short) Resistance Plan
The technical summary data is suggesting a short of SCO if it tests 7.08 with a downside target of 6.61. We should have a stop loss in place at 7.1 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 7.08, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for SCO
April 7, 2021, 11:30 pm ET
The Technical Summary and Trading Plans for SCO help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this SCO Report.
SCO - (Long) Support Plan
If 7.08 begins to break higher, the technical summary data tells us to buy SCO just over 7.08, with an upside target of 9.82. The data also tells us to set a stop loss @ 7.06 in case the stock turns against the trade. 7.08 is the first level of resistance above 6.86, and by rule, any break above resistance is a buy signal. In this case, 7.08, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
SCO - (Short) Resistance Plan
The technical summary data is suggesting a short of SCO if it tests 7.08 with a downside target of 6.72. We should have a stop loss in place at 7.1 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 7.08, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
